Vice Media Group announced the completion of its post-bankruptcy sale to a consortium of former lenders, in a deal valuing the once-high-flying media company at $350 million. The new owners of Vice Media are funds managed by affiliates of Fortress Investment Group, Soros Fund Management and Monroe Capital.
The company was part of a group of bidders that offered $225 million to acquire the bankrupt media company.
The media business is in talks to sell itself to top lenders Fortress Investment and Soros Fund Management through a reorganization that would wipe out other investors.
Byron Allen has shored up more investors to back his $23-a-share takeover offer for television broadcaster Tegna Inc., according to people familiar with the matter. The media mogul is seeking $8 billion or more in debt and equity to outbid a consortium that includes private equity giant Apollo Global Management and Standard General, said the people, who asked to not be identified because the matter isn’t public. Allen is discussing raising at least $2 billion in preferred equity from Oaktree Capital Group, Fortress Investment Group, the family office of Michael Milken and Ares Management Corp.